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Loyalty Myths: Hyped Strategies That Will Put You Out of by Timothy L. Keiningham

By Timothy L. Keiningham

In Loyalty Myths , the authors have assembled fifty three of the commonest ideals approximately patron loyalty – them all unsuitable or misconceived! all the ideals during this ebook is debunked with real-world examples. whereas different books communicate in platitudes; this e-book is the one one to validate every one proposition with actual data.

Granted exceptional entry to shopper files from numerous multi-national organizations. via those files, Ipsos Loyalty was once in a position to accurately song the influence of this customer-centric build on genuine buying habit. The authors’ findings and conclusions will stun enterprise leaders all over the world. the teachings discovered from those offer a real consultant for the right kind use of purchaser loyalty.

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Extra info for Loyalty Myths: Hyped Strategies That Will Put You Out of Business -- and Proven Tactics That Really Work

Sample text

Data-mine the customer database to learn as much as possible about the purchasing habits and patterns of customers as possible. Use this information to better service and cross-sell customers. 2. Use the information for true segment-of-one marketing: offering the right product to the right customer at the right time with the right message, thereby increasing sales and customer loyalty. com. Reproduced with permission. qxd 20 7/21/05 7:52 AM Page 20 LOYALTY MYTHS reports define CRM. Regardless of the definition, it is a huge market, meaning a massive investment by firms in systems designed to get them close to their customers with the goal of improving customer loyalty.

Qxd 10 7/21/05 7:52 AM Page 10 LOYALTY MYTHS 5. Social risk—the risk of condemnation by or embarrassment from friends or business associates for having chosen the product or service. 6. Time risk—the risk of consuming substantial time in selecting an alternative product or service (which may or may not be worth the effort). Eliminating risk in customers’ lives competes with another need, their need for novelty. Novelty is the pleasure of experiencing new products and establishing relationships with new vendors promising new outcomes and new experiences.

S. market by listening to consumers’ concerns and building smaller vehicles. S. auto manufacturers continued to churn out large, gasoline-guzzling vehicles not because of their inability to make smaller cars, but because the profit margins were significantly higher on larger vehicles. The world has changed a lot since then. Today most managers recognize that losing sight of customer needs is a recipe for disaster, though we might argue about how their firms actually address these needs. Levitt’s words still ring true, however.

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